THE WAR LOAN.

Manawatu Herald, Volume XXXVIII, Issue 1600, 19 August 1916, Page 2

THE WAR LOAN.

MINISTER MAKES AN APPEAL,

A SELF-RELIANT DOMINION

TERM FOR LOAN CERTIFICATES EXTENDED.

LONG OR SHORT DEBENTURES

The Minister of Finance (Sir Joseph Ward, issued yesterday the following appeal to the people of New Zealand to invest in the war loan: —

Our young Dominion has reached its manhood. It has raised and equipped an army with whose valiant, deeds the world is already ringing. It has provided an efficient unit in the great Navy which guards our common herbage, the sea. And now, to complete in all respects its full claims to that self-re-liance which should characterise every self-contained people, it proposes no longer to rely on borrowing all the capital required from abroad, but to prove that besides men, organisation, and •murage, it has within itself capital to meet a considerable portion •it the extraordinary expense imposed by the great war. Will everyone in Now Zealand, man, woman and child, endeavour to help the Government by placing in the war loan whatever sum can be spared even should such action entail a sacrifice of some luxury which is now denied to our noble soldiers at tile front. Let us all feel that we are sharing to some extent the sacrifice they are making. OPPORTUNITY TO SMALL INVESTORS. Sir Joseph Ward announced that it had been decided to extend the time for (lie closing of that portion of the loan being raised by war loan certificate.-, through the Post Olfiee. Applications for the war loan, for amounts of £SO ; and upwards, would close on Monday, August 21>t, but to give an opportunity to all sections of the community to subscribe for the smaller amounts by buying war loan certificates, applications for this branch of the loan would not close on Monday. The time would lie extended for a few weeks. Many people in different parts of the country had represented to him that they wished lo have this opportunity of investing small sums, but that, although they had pro-per live payments due to them, they had not the money immediately available. Naturally he wished to avoid denying to these people an opportunity to join in raising the loan. in regard to the larger amounts.

there was. in his opinion, no necessity to extend the period. He had every reason to say that he believed the re>u!t was going to he successful in every way. WHICH ARE THE BETTER DEBENTURES Sir Joseph Ward went on to say that as some intending subscribers to the war loan did not apparently see the value of investing for twenty-live years instead of fourteen. he would meet the views of those who want to invest for fourteen years by putting them in the same position and accept any one sum up to i‘2(l,0(10 to hear interest from September Ist, providing their application is in on or before the ■21.-1 instant. He wished at the same time to.express the opinion that in all probability an opportunity for the longer term upon such favourable conditions was not likely to arise in this country for many years to come. And as the bonds would he readily saleable, and in all probability would in the next few years he at a premium, he could not understand why anyone should for preference select the shorter term, instead of the longer term. From an investment point of view the advantage was on the side of (he longer term.